As per this study the Global Artificial Intelligence In Manufacturing Market was valued USD 2.86 BN (by revenue) in 2022 and is anticipated to reach USD 61.12 BN by 2030 with a CAGR of 46.6%.
Artificial Intelligence (AI) is an area of computer science introduced to reducethe workload of humans and also to help the businesses achieve more, faster and more efficiently. AI in manufacturing reduces unplanned downtime, improve efficiency, product quality and the safety of employees. It is used for material movement, predictive maintenance, and machinery inspection, production planning, and field services among others. The technology of AI in manufacturing includes machine learning (ML), computer vision, context awareness and natural language processing (NLP).
Market Dynamics
The rising adoption of IoT (Internet Of Things) and increasingly large and complex data sets is driving market growth. Growing usage of computer vision cameras is again accelerating market growth. On the other hand, lack of awareness and technology integration among workers may restrict market growth. Whereas, increasing adoption in developing regions and development of smarter robots are likely to offer an opportunity during the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of artificial intelligence in manufacturing.
Market Segmentation
The broad artificial intelligence in manufacturingmarket has been sub-grouped into deployment, technology, application and industry. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Offering
- Hardware
- Software
- Services
By Technology
- Machine Learning
- Natural language Processing
- Aware Computing
- Computer Vision
By Application
- Predictive Maintenance and Machinery Inspection
- Inventory Optimization
- Production Planning
- Field Services
- Quality Control
- Cybersecurity
- Industrial Robots
- Reclamation
By Industry
- Automotive
- Energy and Power
- Metals and Heavy Machinery
- Semiconductor & Electronics
- Food & Beverage
- Pharma
- Mining
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for artificial intelligence in manufacturing in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Artificial Intelligence In Manufacturing Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the artificial intelligence in manufacturing market include Siemens, BM Intel Corporation, NVIDIA Corporation and General Electric Microsoft Corporation, Google, Amazon Web Services. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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